"This transaction, which involves a small portion of our overall patent portfolio, marks an important milestone of InterDigital's stated strategy of expanding the monetisation of its large and growing intellectual property portfolio. By executing on our business plan, which has been broadened to include patent sales, licensing partnerships and other possibilities, we see tremendous potential to expand revenue and build shareholder value," said Scott McQuilkin, senior executive vice president, strategy and finance, InterDigital.

"These patents will support Intel's strategic investments in the mobile segment," said Doug Melamed, senior vice president and general counsel, Intel. "The addition of these patents expands our already large, strong and diverse portfolio of intellectual property."

The companies expect the transaction to be completed in third quarter 2012, subject to customary closing conditions and any required regulatory approvals.

What is wireless communication?
Wireless communication is the transfer of information over a distance without the use of electrical conductors or "wires." The distances involved may be short (a few metres as in television remote control using infrared light) or long (thousands or millions of kilometres for radio communications).